CME fee rises vex struggling high-speed trading industry (.. ) On Tuesday the FIA Principal Traders Group, an industry association, met in Chicago with CME fees on the agenda. Participants discussed asking a lawyer to study their options, according to two attendees. The group’s members include such established trading firms as DRW, Jump Trading and XR Trading, all of which declined to comment. At the meeting, “there was anger,” one participant said. But another added that the tone “was resignation”. As most traders use automated programs to execute thousands of orders per day, small transaction fee increases add up. “You have significantly less opportunity, and the CME is just reaching in and taxing everybody more aggressively than ever,” said a senior executive at one big exchange customer. Starting in February, CME will raise the member rate for trading longer-dated Treasury futures to 13 cents a contract from 12 cents. “Just that one cent is a multimillion-dollar hit,” the senior executive said. (.. )
"...As most traders use automated programs to execute thousands of orders per day, small transaction fee increases add up. “You have significantly less opportunity, and the CME is just reaching in and taxing everybody more aggressively than ever,” said a senior executive at one big exchange customer." ..."Starting in February, CME will raise the member rate for trading longer-dated Treasury futures to 13 cents a contract from 12 cents. “Just that one cent is a multimillion-dollar hit,” the senior executive said." Oh boo bloody hoo! Cry me a river! Automate THIS!